Tradeshift

Tradeshift
Industry Software
Founded May 2010
Founder Christian Lanng, Mikkel Hippe Brun, Gert Sylvest
Headquarters San Francisco, London, Copenhagen, Amsterdam, Paris, Munich, Suzhou, Tokyo
Number of employees
 250
Website tradeshift.com

Tradeshift is a web based business network and free invoicing platform[1] founded by Christian Lanng,[2][3][4] Mikkel Hippe Brun[5] and Gert Sylvest[6][7] and first launched in May 2010. By February 2011, it had active users in more than 150 countries.[8] The rapid adoption of the service drew attention from international media, including Wired[9] and Financial Times.[10]

Competitors include Tungsten Network, Ariba,[11] OB10, Procurify, Coupa and Maventa.com.[1] In March 2012, the company released an invoice processing product called CloudScan, which aims to completely remove the burden of invoice handling work for its clients.[12] This technology stream is known in the industry as Cloud Invoicing, which Tradeshift says guarantees a 'barrier-free' exchange of structured documents.

Background

All of the founders have a background in the Danish public sector, where they created the world's first large scale peer-to-peer infrastructure for e-business called Easytrade. This innovation was nominated for the European eGovernment Awards in 2009.[13] The founders also had leading roles (Governing board member, Technical Director) in the European Commission project PEPPOL, which is aiming to enable cross-border electronic trade inside the European Union.[5]

Team

The Tradeshift platform has attracted a number of experienced high profile investors such as Morten Lund, who served as Chairman for the company (a position now held by CEO Christian Lanng) and who remains as a board member today, Jon Bosak, who co-created XML and works on the technical advisory board, Mårten Mickos,[14] Last.fm backer Stefan Glaenzer and another long-time angel investor Klaus Lovgreen.

Funding

In May 2011, Tradeshift raised $7 million from Notion Capital.[15][16] In October that year, it raised a further $17 million, which established its total market value at around $137 million.[17] The participants in the later round were ru-Net and Kite Ventures, both of which are Moscow-based investment firms.[18]

In February 2014, Tradeshift received $75 million from Singapore’s Scentan Ventures, which the company said it would use to expand its business in Japan and China, where many of its customers have suppliers. Scentan's involvement now values Tradeshift at $300 million.[19]

See also

References

  1. ↑ 1.0 1.1 Mike Butcher, TechCrunch. "Tradeshift shifts up a gear with Instant Payments for businesses." October 11, 2011. Retrieved January 11, 2012.
  2. ↑ ANDREW KEEN, TechCrunch."Keen On… Christian Lanng: Why All Current Business Software Is Crap [TCTV]." March 20, 2012. Retrieved May 7, 2012.
  3. ↑ Shared Services Link. "The CEO briefing: Tradeshift's Christian Lanng talks about e-invoicing interoperability." September 7, 2011. Retrieved May 7, 2012.
  4. ↑ Idea Mensch. "Christian Lanng – Co-Founder and CEO of Tradeshift." Retrieved May 7, 2012.
  5. ↑ 5.0 5.1 Antony Savvas, Computer World UK. "EU e-procurement agency implements TradeShift." December 13, 2011. Retrieved May 7, 2012.
  6. ↑ Paul Corning, ZD Net. "Tradeshift goes social with business apps." April 8, 2011. Retrieved May 7, 2012.
  7. ↑ JASON HESSE, The Kernel Magazine. "INVOICING FOR DUMMIES." MAY 1, 2012. Retrieved May 7, 2012.
  8. ↑ Butcher, Mike (2011-02-17). "Tradeshift lights the touchpaper". TechCrunch. Retrieved 2011-04-05.
  9. ↑ Roth, Daniel (2010-02-22). "The Future of Money". Wired. Retrieved 2010-03-25.
  10. ↑ Bradshaw, Tim (2011-05-16). "Tradeshift in $7m fundraising". FT. Retrieved 2011-05-16.
  11. ↑ Jason Busch, Spend Matters. "TradeShift Introduces CloudScan -- A Shift in E-Invoicing Philosophy as Much as Technology (Part 2)." March 13, 2012. Retrieved March 14, 2012.
  12. ↑ Jason Busch, Spend Matters. "TradeShift Introduces CloudScan -- A Shift in E-Invoicing Philosophy as Much as Technology (Part 1)." March 8, 2012. Retrieved March 13, 2012.
  13. ↑ . "Award Finalists 2009". ePractice.
  14. ↑ MIKE BUTCHER, TechCrunch. "Tradeshift signs new Angels, tests platform and is courting VCs." April 22, 2010. Retrieved May 9, 2012.
  15. ↑ Steve O'Hear, TechCrunch. "Tradeshift raises $7m for its ‘Skype for invoicing’ and wider B2B play." May 16, 2011. Retrieved January 11, 2011.
  16. ↑ Ciara Byrne, VentureBeat. "[Tradeshift reinvigorates invoicing with $7 million in funding http://venturebeat.com/2011/05/16/tradeshift-reinvigorates-invoicing-with-7-million-in-funding/]." May 16, 2011. Retrieved March 13, 2012.
  17. ↑ Ben Rooney, The Wall Street Journal. "Tradeshift Secures $17 Million Funding." October 25, 2011. Retrieved March 13, 2012.
  18. ↑ Robin Wauters, TechCrunch. "E-invoicing company Tradeshift raises $17 million at $137 million valuation." October 25, 2011. Retrieved December 19, 2011.
  19. ↑ Davies, Sally. "Digital invoicer Tradeshift valued at over $300m in fundraising", The Financial Times. London, 25 February 2014

External links